Archives: Quiz
Economics Chapter 1 1 The existence of scarcity in economics comes from
Copyright © 2014 Pearson Education, Inc. The Economic Way of Thinking, 13e (Heyne) Chapter 1 The Economic Way of Thinking 1) Fill in the blank: Economics is the study of ________ and its ________. A) greed; desirable consequences B) choice; […]
Business Law Chapter 4 1 Georgia Can Stop Trading With Kingsland Without
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 4 Constitutional Law for Business and E-Commerce 1) The primary purpose of the Constitutional Convention of 1787 was to limit the power of the federal government and restrict it […]
International Business Chapter 3 3 A running balance is maintained in the ledger after each transaction is posted
Copyright © 2013 Pearson Education, Inc. publishing as Prentice Hall 20) A running balance is maintained in the ledger after each transaction is posted. 33 Answer: TRUE Diff: 2 LO: 3-2 AACSB: Reflective Thinking Skills Learning Outcome: Define accounting terms, […]
Business Law Chapter 3 1 To initiate a lawsuit, the plaintiff must file an appeal in the proper court
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 3 Judicial, Alternative, and E-Dispute Resolution 1) The paperwork that is filed with the court to initiate and respond to a lawsuit is referred to as the pleadings. Answer: […]
International Business Chapter 3 2 Cooper Company began business in June. Prepare the following transactions for June
Copyright © 2013 Pearson Education, Inc. publishing as Prentice Hall 67) Journalize, in proper form, the following transactions that occurred during September. Omit explanations. September 5 Michele invested $23,000 cash and $10,000 of equipment into her new business 10 Paid […]
Business Law Chapter 2 1 General jurisdiction trial courts can be found in every state
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 2 Courts and Jurisdiction 1) A decision of a limited-jurisdiction trial court can be appealed at a general jurisdiction court or an appellate court. Answer: TRUE Diff: 1 Topic: […]
International Business Chapter 3 1 The twelve-month period a business chooses for its accounting period is a
Copyright © 2013 Pearson Education, Inc. publishing as Prentice Hall College Accounting, 12e (Slater) Chapter 3 Beginning the Accounting Cycle 3.1 Learning Objective 3-1 1) The process that begins with recording business transactions and includes the completion of the financial […]
Business Law Chapter 1 1 Laws in the U.S. are not set to evolve with changes in social norms.
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 1 Legal Heritage and the Digital Age 1) Businesses that are organized in the United States are subject to its laws, but not to the laws of other countries […]
International Business Chapter 2 2 Accounts Receivable indicates amounts owed to us by our clients or customers
Copyright © 2013 Pearson Education, Inc. publishing as Prentice Hall 72) When the owner invests personal equipment in the business, cash is increased. Answer: FALSE Diff: 1 LO: 2-2 AACSB: Analytic Skills Learning Outcome: Analyze and record transactions and their […]
International Business Chapter 2 1 Selected accounts from the ledger of Thomas Company appear below
Copyright © 2013 Pearson Education, Inc. publishing as Prentice Hall College Accounting, 12e (Slater) Chapter 2 Debits and Credits: Analyzing and Recording Business Transactions 2.1 Learning Objective 2-1 1) A chart of accounts: A) is set up in alphabetical order. […]
International Business Chapter 1 2 Ryan withdrew cash from the business to pay his personal cell phone bill
Copyright © 2013 Pearson Education, Inc. publishing as Prentice Hall 2) Owner’s withdrawals: A) decrease assets. B) increase expenses. C) increase liabilities. D) decrease withdrawals. Answer: A Diff: 2 LO: 1-3 AACSB: Reflective Thinking Skills Learning Outcome: Analyze and record […]
International Business Chapter 1 1 The type of business organization that can continue indefinitely is known as a
Copyright © 2013 Pearson Education, Inc. publishing as Prentice Hall College Accounting, 12e (Slater) Chapter 1 Accounting Concepts and Procedures 1.1 Learning Objective 1-1 1) The type of business organization that can continue indefinitely is known as a: A) sole […]
Management Chapter 20 8 Importers Arranged Have French Winery Ship
299. H & Q Importers arranged to have a French winery ship a large quantity of fine wine to the United States. By signing a(n) ______________ H & Q authorized its bank to make full payment to the French winery […]
Management Chapter 20 7 An Allows Money Exchanged Electronically
275. A(n) __________ allows money to be exchanged electronically more quickly and more economically than with paper checks. A. electronic check conversion (ECC) B. electronic funds transfer system C. virtual banking operation D. telechecking system AACSB: Reflective Thinking Accessibility: Keyboard […]
Management Chapter 20 6 The Federal Reserve Represents Bankers Bank
240. The Federal Reserve represents a “bankers’ bank” because: A. it was created as a central clearinghouse for the transactions of the largest banks. B. commercial banks compete with the Fed for business customers. C. it lobbies Congress in support […]
Management Chapter 20 5 Open market Operations Involve Monitoring The Reserve
207. Open-market operations involve: A. monitoring the reserve requirement. B. the buying and selling of bonds. C. increasing and decreasing interest rates. D. participating with the IMF. AACSB: Reflective Thinking Accessibility: Keyboard Navigation Blooms: Remember Learning Objective: 20-02 Describe how […]
Management Chapter 20 4 Everything Else Held Constant International Bank
159. Both checks and debit cards will immediately transfers funds from the customer’s account to the seller’s account. FALSE AACSB: Reflective Thinking Accessibility: Keyboard Navigation Blooms: Remember Learning Objective: 20-06 Describe how technology helps make banking more efficient. Level of […]
Management Chapter 20 3 Andrea Has Three Types Deposits Her
108. A major cause of the recent banking crisis was the neglect of banks to seriously scrutinize loan applicants for creditworthiness. TRUE AACSB: Reflective Thinking Accessibility: Keyboard Navigation Blooms: Remember Learning Objective: 20-04 Classify the various institutions in the U.S. […]
Management Chapter 20 2 Remember learning Objective 2003 Trace The History Banking
57. To decrease the money supply, the Federal Reserve sells U.S. government bonds in open– market operations. TRUE The Fed’s open market operations involve the buying and selling of securities on the open market. If the Fed wants to tighten […]
Management Chapter 20 1 Most countries restrict the flow of money in and out of their borders
1. Economic growth and the creation of jobs depend on the availability of money. TRUE AACSB: Reflective Thinking Accessibility: Keyboard Navigation Blooms: Remember Learning Objective: 20-01 Explain what money is and what makes money useful. Level of Difficulty: 1 Easy […]
Management Chapter 19 10 Gerald Recent Graduate Community College About
387. Gerald, a recent graduate of a community college, is about to make his first investment in the stock market. Which of the following would be a cautious way for Gerald to start investing? A. Future contracts in oil B. […]
Management Chapter 19 9 Jason Instructed His Stockbroker Buy 100
351. Jason instructed his stockbroker to buy 100 shares of Utah Industries common stock if and when the price falls to $25 per share. Jason placed a(n): A. market order. B. odd-lot order. C. limit order. D. contingent order. A […]
Management Chapter 19 8 Which The Following Not Important Criterion
311. Which of the following is not an important criterion to consider before investing? A. Exchange where the company offering the investment is traded B. The riskiness of the investment C. The duration of the investment D. The expected rate […]
Management Chapter 19 7 Issuing Bonds Obtain Long term Funds Legally
279. Issuing bonds to obtain long-term funds legally compels a firm to pay regular ________ payments and repay the ________ at the maturity date. A. dividend; par value B. interest; bond premium C. dividend; maturity value D. interest; principal AACSB: […]
Management Chapter 19 6 According The Spotlight Small Business Box
247. According to the Spotlight on Small Business box, which of the following is NOT a way the SEC changes altered securities laws following the JOBS Act? A. Raised the number of shareholders a company could have before registering with […]
Management Chapter 19 5 Corporations Benefit From Securities Markets Primarily
207. Trading curbs motivate traders to utilize their computerized programs to reduce market volatility. FALSE AACSB: Reflective Thinking Accessibility: Keyboard Navigation Blooms: Remember Learning Objective: 19-09 Describe how indicators like the Dow Jones Industrial Average affect the market. Level of […]
Management Chapter 19 4 They Maybe Willing Pay Something Less Than
156. Buying stock on margin allows investors to increase the potential rate of return made on a stock investment. TRUE Buying stock on margin involves the purchase of stock with funds borrowed from the brokerage firm. An investor buying on […]
Management Chapter 19 3 Since She Her 20s Monica Believes She can
108. With everything else constant, investors prefer a bond issued with a sinking fund compared to a bond without a sinking fund. TRUE A sinking fund bond requires the issuing organization to regularly set aside funds in a reserve account […]
Management Chapter 19 2 Stocks represent shares of ownership in a company
54. According to the Securities Act of 1933 it is against the law for a firm that is publicly trading securities to deny an investor from knowing how the firm is doing financially. TRUE The Securities Act of 1933 requires […]
Management Chapter 19 1 Keyboard Navigation blooms Apply learning Objective 1901 Describe The
1. Securities markets represent the financial marketplaces for stocks and bonds. TRUE AACSB: Reflective Thinking Accessibility: Keyboard Navigation Blooms: Remember Learning Objective: 19-01 Describe the role of securities markets and of investment bankers. Level of Difficulty: 1 Easy Topic: Understand […]
Management Chapter 18 8 Raise The Funds For The Major
290. To raise the funds for the major improvements needed at the funeral home, Mort has talked to two investors about incorporating his business and selling them shares of stock in the company. Mort is considering the use of: A. […]
Management Chapter 18 7 The Interest Paid Represents Tax deductible
273. The interest paid on ________ represents a tax-deductible business expense. A. bonds B. stock C. retained earnings D. depreciated assets Lenders usually require borrowers to pay interest on loans. Firms must also pay interest to their bondholders. Interest payments […]
Management Chapter 18 6 When Liberty Industries Renegotiated Their Loan
232. When Liberty Industries renegotiated their loan agreement, they borrowed an additional $2 million. The new loan requires Liberty to repay the new amount in nine months. Liberty’s activity represents ________ financing. A. equity B. debt C. revitalized D. secured […]
Management Chapter 18 5 Company Wants Predict How Much Money
200. If a company wants to predict how much money it can make this coming year, it would benefit from developing a: A. master budget. B. consolidated income statement. C. short-term forecast. D. statement of cash flows. A short-term forecast […]
Management Chapter 18 4 which of the following commonly results in the financial
157. Leverage refers to the use of borrowed funds to increase a firm’s rate of return. TRUE AACSB: Reflective Thinking Accessibility: Keyboard Navigation Blooms: Remember Learning Objective: 18-05 Identify and describe different sources of long-term financing. Level of Difficulty: 1 […]
Management Chapter 18 3 Reinhart Thred up Received Financing For His Small
101. Backstreet Books is seeking financing to fund the opening of two more locations in a major university town. There is no need to consider debt financing for this project. It will require a sizeable investment in equity funds. FALSE […]
Management Chapter 18 2 After Thoroughly Studying The Feasibility For
55. Since short-term financial forecasts predict expected future events, they should not be influenced by recent financial statements. FALSE Past financial statements are often used as the basis for making projections about future sales revenues, costs and expenses used in […]
Management Chapter 18 1 Financial management is more important for a large firm than it is for a small firm
1. Finance is the function in a business that acquires funds for the firm and manages those funds within the firm. TRUE AACSB: Reflective Thinking Accessibility: Keyboard Navigation Blooms: Remember Learning Objective: 18-01 Explain the role and responsibilities of financial […]
Management Chapter 17 1 Certified Public Accountant CPA Kay Might
1. Accounting is an easy subject for people to understand because almost everyone is exposed to basic accounting concepts in their everyday life. FALSE AACSB: Reflective Thinking Accessibility: Keyboard Navigation Blooms: Remember Learning Objective: 17-01 Demonstrate the role that accounting […]
Management Chapter 17 10 Marshall Mcbride Inherited 10000 From His
349. Marshall McBride inherited $10,000 from his Great Aunt Martha. He invested $5,000 in a new, risky start-up venture, 10th Generation, Inc., and the other $5,000 in Major Chemicals, Inc., a well-known chemical company that’s been around for years. Today, […]
Management Chapter 17 9 Financial Ratios That Reflect The Degree
325. Financial ratios that reflect the degree to which a firm relies on borrowed funds are called ________ ratios. A. leverage B. liquidity C. activity D. profitability Leverage ratios measure the degree to which a firm relies on borrowed funds […]
Management Chapter 17 8 During Period Rising Prices Firm Desires
300. During a period of rising prices, if a firm desires to report a low gross profit figure in hopes of reducing their income tax liability, the firm will use the __________ inventory valuation method. A. FIFO (first-in, first-out) B. […]
Management Chapter 17 7 Oklahoma Chemicals Plans Use Its Computers
257. Oklahoma Chemicals plans to use its computers to post information from journals to the ledger instantaneously. One obvious benefit of this technology is: A. a reduction in the number of accountants required by the firm. B. less scrutiny from […]
Management Chapter 17 6 Basic Difference Between Managerial Accounting And
226. A basic difference between managerial accounting and financial accounting is that managerial accounting: A. adheres to rules set by the GASB, while financial accounting uses a different group of rules set by the FASB. B. involves the preparation of […]
Management Chapter 17 5 Which The Following Example Financial Transaction
192. Which of the following is an example of a financial transaction? A. A firm purchases a fire insurance policy. B. An internal auditor discovers an error in a firm’s inventory valuation. C. A potential customer accesses a firm’s web […]
Management Chapter 17 4 Important Difference Between Accounting And Other
146. Marissa is taking her first course in accounting this semester. One of the first things she learns is that revenue and net income mean the same thing. FALSE Although both of these accounts are noted on the income statement, […]
Management Chapter 17 3 utilities and insurance are examples of operating expenses
103. Gross profit represents profit after the deduction of cost of goods sold, and before the deduction of all other selling expenses, general expenses, and tax expense. TRUE AACSB: Reflective Thinking Accessibility: Keyboard Navigation Blooms: Remember Learning Objective: 17-04 Explain […]
Management Chapter 17 2 Bookkeeping is part of the accounting cycle
52. The Sarbanes-Oxley Act strengthens the protection for whistleblowers who report wrongful actions of company officers. TRUE By definition, whistleblowers are stakeholders who report fraudulent and other illegal behavior to government authorities. The Sarbanes Oxley Act encourages whistleblowing. AACSB: Reflective […]
Management Chapter 16 7 Budliter Has New Campaign For Its
252. Budliter has a new ad campaign for its product. In an effort to determine whether consumers like the ad and characters it created, Budliter is monitoring _________, or online diaries for mention of their campaign. A. podcasts B. viral […]
Management Chapter 16 6 Todays Public Relations Departments Focus More
AACSB: Reflective Thinking Accessibility: Keyboard Navigation Blooms: Remember Learning Objective: 16-04 Describe the role of the public relations department; and show how publicity fits in that role. Level of Difficulty: 1 Easy Topic: Public Relations 222. Today’s public relations departments: […]